I've commuted on my 748 from Day 1.
Of course it depend what the journey is, mine's 26 miles each way, which is far enough to get the motor thoroughly warmed up. I wouldn't use it regularly for a 2 mile journey.
Personally I wouldn't find bending my arms to much very comfortable in traffic, that's only going to put more weight on your wrists. On dual-carriageways though, that's another story. In traffic I find making a conscious effort to hold the 'bars lightly (use your stomach muscles, and your feet) helps a lot. Alternatively, there Rossman's solution!
It's nice and narrow for those filtering gaps, though!
